Rosneft inks TNK-BP loans

Done deals: Rosneft boss Igor Sechin nets loans for half of TNK-BP deal

Russian Presidential Press & Information Office

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Eoin O'Cinneide

 24 December 2012 13:03 GMT

Russia’s Rosneft has inked a pair of loan deals which have seen the oil giant handed almost the exact amount of cash it has agreed to pay BP for its share in joint venture TNK-BP.

Rosneft’s two loan deals struck on Friday but only revealed on Monday are for $4.1 billion and $12.7 billion for a total pot of $16.8 billion.

In October the company agreed to pay BP $17.1 billlion in cash and around 13% of its shares in return for getting the UK supermajor’s 50% stake in TNK-BP.

Both loans have five-year terms and come from a consortium of banks including Bank of America Merrill Lynch, Barclays, BNP Paribas, BTMU, Citibank, Credit Agricole, ING, Intesa Sanpaolo, JP Morgan, Mizuho, Natixis, Nodrea, SMBC, Societe Generale and Unicredit.

Rosneft has already agreed to take the remaining…

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